First Financial Bankshares (NASDAQ:FFIN) Issues Quarterly Earnings Results

First Financial Bankshares (NASDAQ:FFIN) announced its quarterly earnings results on Thursday. The bank reported $0.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.50, Zacks reports. First Financial Bankshares had a net margin of 31.00% and a return on equity of 14.20%.

First Financial Bankshares Price Performance

Shares of First Financial Bankshares stock traded up $1.28 during trading on Thursday, reaching $36.50. 1,142,199 shares of the company traded hands, compared to its average volume of 846,150. The firm has a market capitalization of $5.23 billion, a PE ratio of 19.84 and a beta of 0.81. First Financial Bankshares has a 1-year low of $28.11 and a 1-year high of $38.74. The company has a 50 day moving average price of $33.17 and a 200-day moving average price of $32.09.

First Financial Bankshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th were paid a $0.22 dividend. The ex-dividend date was Friday, June 12th. This represents a $0.88 annualized dividend and a dividend yield of 2.4%. This is an increase from First Financial Bankshares’s previous quarterly dividend of $0.19. First Financial Bankshares’s dividend payout ratio (DPR) is presently 47.83%.

Analyst Ratings Changes

FFIN has been the subject of several analyst reports. Keefe, Bruyette & Woods lowered their target price on First Financial Bankshares from $36.00 to $34.00 and set a “market perform” rating for the company in a research report on Thursday, April 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of First Financial Bankshares in a research note on Monday, July 6th. Benchmark began coverage on shares of First Financial Bankshares in a research report on Wednesday, June 24th. They set a “buy” rating and a $39.00 target price for the company. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $35.00 price target (up from $34.00) on shares of First Financial Bankshares in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $36.75.

Insiders Place Their Bets

In related news, Director Murray Hamilton Edwards acquired 1,000 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were purchased at an average price of $33.18 per share, for a total transaction of $33,180.00. Following the completion of the acquisition, the director owned 44,634 shares of the company’s stock, valued at approximately $1,480,956.12. This trade represents a 2.29% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.80% of the company’s stock.

Institutional Trading of First Financial Bankshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its holdings in First Financial Bankshares by 10.8% in the first quarter. Royal Bank of Canada now owns 64,287 shares of the bank’s stock worth $2,309,000 after acquiring an additional 6,290 shares in the last quarter. AQR Capital Management LLC raised its position in shares of First Financial Bankshares by 51.3% during the first quarter. AQR Capital Management LLC now owns 118,437 shares of the bank’s stock worth $4,228,000 after purchasing an additional 40,173 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of First Financial Bankshares by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 77,474 shares of the bank’s stock worth $2,783,000 after purchasing an additional 3,382 shares in the last quarter. Empowered Funds LLC acquired a new stake in First Financial Bankshares in the 1st quarter valued at $1,760,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in First Financial Bankshares by 17.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 396,513 shares of the bank’s stock valued at $14,243,000 after purchasing an additional 59,416 shares during the period. 69.78% of the stock is owned by institutional investors.

About First Financial Bankshares

First Financial Bankshares, Inc is a regional bank holding company headquartered in Cincinnati, Ohio. Through its primary subsidiary, First Financial Bank, the company offers a full suite of banking products and services to individual, small business and commercial clients. With roots dating back to 1863, First Financial has cultivated a strong community banking heritage, combining personalized service with modern financial solutions.

The company’s core business activities include commercial and consumer lending, deposit products, treasury management, mortgage origination and servicing, and wealth management.